Check Capital Management Inc. CA raised its stake in Phillips 66 (NYSE:PSX) by 71.0% during the first quarter, Holdings Channel reports. The firm owned 184,161 shares of the oil and gas company’s stock after buying an additional 76,442 shares during the period. Phillips 66 comprises approximately 1.0% of Check Capital Management Inc. CA’s investment portfolio, making the stock its 18th largest position. Check Capital Management Inc. CA’s holdings in Phillips 66 were worth $14,589,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Phillips 66 by 5.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 269,750 shares of the oil and gas company’s stock valued at $23,310,000 after buying an additional 14,733 shares during the period. MUFG Americas Holdings Corp increased its stake in shares of Phillips 66 by 2.8% in the fourth quarter. MUFG Americas Holdings Corp now owns 63,298 shares of the oil and gas company’s stock valued at $5,469,000 after buying an additional 1,695 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Phillips 66 during the fourth quarter valued at $18,243,000. InterOcean Capital LLC increased its stake in shares of Phillips 66 by 28.3% in the fourth quarter. InterOcean Capital LLC now owns 102,791 shares of the oil and gas company’s stock valued at $8,882,000 after buying an additional 22,686 shares during the period. Finally, Winslow Evans & Crocker Inc. increased its stake in shares of Phillips 66 by 5.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 4,616 shares of the oil and gas company’s stock valued at $366,000 after buying an additional 236 shares during the period. Institutional investors and hedge funds own 69.99% of the company’s stock.
Phillips 66 (NYSE PSX) opened at 81.24 on Tuesday. The firm has a 50-day moving average of $78.60 and a 200-day moving average of $80.53. The stock has a market capitalization of $41.93 billion, a PE ratio of 25.21 and a beta of 1.27. Phillips 66 has a one year low of $73.67 and a one year high of $88.87.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.53. The company had revenue of $23.71 billion during the quarter, compared to analyst estimates of $22.30 billion. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. During the same period in the prior year, the business posted $0.67 EPS. On average, equities research analysts forecast that Phillips 66 will post $4.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th were paid a $0.70 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $0.63. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Tuesday, May 16th. Phillips 66’s dividend payout ratio is currently 86.96%.
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Several equities research analysts have recently weighed in on PSX shares. Royal Bank Of Canada reiterated a “hold” rating and set a $87.00 target price on shares of Phillips 66 in a research note on Thursday, April 20th. Piper Jaffray Companies restated an “overweight” rating and issued a $88.00 price objective on shares of Phillips 66 in a research report on Thursday, May 25th. Scotiabank set a $86.00 price objective on shares of Phillips 66 and gave the company a “hold” rating in a research report on Monday, May 1st. US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a research report on Monday, May 22nd. Finally, Jefferies Group LLC set a $74.00 price objective on shares of Phillips 66 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $84.86.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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